Hy, mates. I'm going to give you some tips about bats. I think, you know the general rules of engagement. If not, search google fo "Advanced patterns ROE pdf", download it and print)).
Well, what is so valuable about bats? Why not gartleys? RISK/REWARD.
OK, HERE'S TIP #1. If you always place stops on 1,113XA you will ALWAYS have a 1/1,3 ratio first target and 1/2,2 ratio the second. It means risking a dollar for potential 1,3 or 2,2 dollars profit. As you see, stops' size very much depends on the XA move. That's very important. Volatile markets need more room. Quite, calm markets require less room. In this part this stop placement works almost similar to X+ATR. Why 1,113 and not 1,272? The answer is simple. According to my research there's a 97% probability that price will hit 1,272 if it passed 1,113. So why should you risk more then needed? To save those 3%?
Tip #2 If you want to see the kind of move that is presented on the chart, then open aussie chart m1-m15 and trade those bats which have a 60-80 pips XA move. Compare this one:
The tip here is TIMEFRAME. You don't need to stick to one trading timeframe. You need onle the size of XA move. If you have that kind of movement in 5 mins - it's ok. If you have that kind of movement in 1 hour - it's also OK. The size of XA I detected is important if you want to see the price action that is on the chart. My optimal trading size is 48-131 pips. Note, that in Advanced patterns finding XA is the MOST IMPORTANT SKILL. The rest is simple - just measure the ratios and place trades.
Well, mates if you want more tips on BATS follow me on tradingview and you'll get much more for free. I will post them from time to time, so if you are subscrebed you won't miss one.
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Well, what is so valuable about bats? Why not gartleys? RISK/REWARD.
OK, HERE'S TIP #1. If you always place stops on 1,113XA you will ALWAYS have a 1/1,3 ratio first target and 1/2,2 ratio the second. It means risking a dollar for potential 1,3 or 2,2 dollars profit. As you see, stops' size very much depends on the XA move. That's very important. Volatile markets need more room. Quite, calm markets require less room. In this part this stop placement works almost similar to X+ATR. Why 1,113 and not 1,272? The answer is simple. According to my research there's a 97% probability that price will hit 1,272 if it passed 1,113. So why should you risk more then needed? To save those 3%?
Tip #2 If you want to see the kind of move that is presented on the chart, then open aussie chart m1-m15 and trade those bats which have a 60-80 pips XA move. Compare this one:
Well, mates if you want more tips on BATS follow me on tradingview and you'll get much more for free. I will post them from time to time, so if you are subscrebed you won't miss one.
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